Macys, Inc. recorded a 13.9% increase in net sales for fiscal November to $2.71 billion from $2.38 billion for the same period last year. On a same-store basis, Macys, Inc. sales were up 13.4% in November.
For the year to date, Macys, Inc. sales totaled $20.432 billion, up 1.2% from total sales of $20.193 billion in the first 43 weeks of 2006. On a same-store basis, Macys, Inc.s year-to-date sales were up 0.7%.
“Our business in November was strong as customers responded positively to the holiday season offering at Macys and Bloomingdales. Sales also benefited from cold weather throughout many parts of the country during much of the November period, as well as a calendar shift that resulted in an additional week after Thanksgiving falling in the month of November this year compared to December last year,” said Terry J. Lundgren, Macys, Inc. chairman, president and chief executive officer. “This calendar shift will result in our December sales being lower than last year. It is important that the November-December holiday selling period be viewed together rather than each month individually.”
The company expects December same-store sales to be down by 4% to 7% compared with last year. Macys, Inc. continues to expect that same-store sales for the fourth quarter as a whole to be in the range of down 2% to up 1%.
